Cashierless DeepMagic Acquired – Retail Kiosk News

By | October 28, 2019

Retail Kiosk News from Tech Crunch

Valued at $535 million, autonomous retail startup Standard Cognition has emerged as a soon-to-be tech giant and the best hope for merchants to compete with Amazon Go. Cashierless checkout is poised to transform brick-and-mortar commerce, and shop owners fear having to battle Amazon’s technology alone or partner with it, exposing data it could use against them.

The $86 million-funded Standard Cognition is racing to equip storefronts with an independent alternative using cameras to track what customers grab and charge them. But Amazon’s early start in the space poses a risk that it could patent troll the startup. So today, Standard Cognition announced it has acquired DeepMagic, a pioneer in autonomous retail kiosks.

To beat Amazon Go, Standard Cognition buys cashierless DeepMagic

Author: Staff Writer

Craig Keefner is the editor and author for most Kiosk Association and kiosk industry. With over 25 years in the kiosk industry and experience in large and small kiosk solutions, Craig is widely considered to be an expert in the field. Major kiosk projects for him include Verizon Bill Pay kiosk and hundreds of others.